Exhibit 99.7
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1996-C
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES
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Beginning of the Month Principal Receivables: $2,606,203,699.74
Beginning of the Month Finance Charge Receivables: $137,951,283.81
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Total Receivables: $2,744,154,983.55
Removed Principal Receivables: $8,675,799.67
Removed Finance Charge Receivables: $177,881.08
Removed Total Receivables: $8,853,680.75
Additional Principal Receivables: $0.00
Additional Finance Charge Receivables: $0.00
Additional Total Receivables: $0.00
Discounted Receivables Generated this Period: $0.00
End of the Month Principal Receivables: $2,611,210,024.32
End of the Month Finance Charge Receivables: $136,943,111.55
End of the Month Discounted Receivables: $0.00
End of the Month Total Receivables: $2,748,153,135.87
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust II Series) $1,850,000,000.00
End of the Month Transferor Amount $761,210,024.32
End of the Month Transferor Percentage 29.15%
DELINQUENCIES AND LOSSES
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End of the Month Delinquencies:
30-59 Days Delinquent $61,581,618.45
60-89 Days Delinquent $44,852,084.65
90+ Days Delinquent $84,263,918.94
Total 30+ Days Delinquent $190,697,622.04
Delinquent Percentage 6.94%
Defaulted Accounts During the Month $18,199,011.04
Annualized Default Percentage 8.38%
Apr-2002 1996-C Page 2
Principal Collections $284,391,203.76
Principal Payment Rate 10.91%
Total Payment Rate 11.79%
INVESTED AMOUNTS
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Class A Initial Invested Amount $184,500,000.00
Class B Initial Invested Amount $19,125,000.00
Class C Initial Invested Amount $21,375,000.00
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INITIAL INVESTED AMOUNT $225,000,000.00
Class A Invested Amount $246,000,000.00
Class B Invested Amount $25,500,000.00
Class C Invested Amount $28,500,000.00
---------------
INVESTED AMOUNT $300,000,000.00
Class A Adjusted Invested Amount $246,000,000.00
Class B Adjusted Invested Amount $25,500,000.00
Class C Adjusted Invested Amount $28,500,000.00
---------------
ADJUSTED INVESTED AMOUNT $300,000,000.00
PREFUNDED AMOUNT $0.00
FLOATING ALLOCATION PERCENTAGE 11.51%
PRINCIPAL ALLOCATION PERCENTAGE 11.51%
Class A Principal Allocation Percentage 82.00%
Class B Principal Allocation Percentage 8.50%
Class C Principal Allocation Percentage 9.50%
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED
TO SERIES 1996-C $32,734,705.71
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-C $4,496,261.14
MONTHLY SERVICING FEE $375,000.00
INVESTOR DEFAULT AMOUNT $2,092,347.29
Apr-2002 1996-C Page 3
CLASS A AVAILABLE FUNDS
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CLASS A FLOATING ALLOCATION PERCENTAGE 82.00%
Class A Finance Charge Collections $3,994,434.16
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $3,994,434.16
Class A Monthly Interest $410,000.00
Class A Servicing Fee $307,500.00
Class A Investor Default Amount $1,715,724.77
TOTAL CLASS A EXCESS SPREAD $1,561,209.39
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS
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CLASS B FLOATING ALLOCATION PERCENTAGE 8.50%
Class B Finance Charge Collections $414,057.19
Other Amounts $0.00
TOTAL CLASS B AVAILABLE FUNDS $414,057.19
Class B Monthly Interest $47,493.75
Class B Servicing Fee $31,875.00
TOTAL CLASS B EXCESS SPREAD $334,688.44
CLASS B INVESTOR DEFAULT AMOUNT $177,849.52
CLASS B REQUIRED AMOUNT $177,849.52
CLASS C FLOATING ALLOCATION PERCENTAGE 9.50%
CLASS C MONTHLY SERVICING FEE $35,625.00
Apr-2002 1996-C Page 4
EXCESS SPREAD
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TOTAL EXCESS SPREAD $2,323,042.62
Excess Spread Applied to Class A Required Amount $0.00
Excess Spread Applied to Class A Investor Charge Offs $0.00
Excess Spread Applied to Class B Required Amount $177,849.52
Excess Spread Applied to Reductions of Class B
Invested Amount $0.00
Excess Spread Applied to Class C Required Amount $265,510.50
Excess Spread Applied to Reductions of Class C
Invested Amount $0.00
Excess Spread Applied to Monthly Cash Collateral Fee $62,500.00
Excess Spread Applied to Cash Collateral Account $0.00
Excess Spread Applied to Spread Account $0.00
Excess Spread Applied to Reserve Account $0.00
Excess Spread Applied to other amounts owed to
Cash Collateral Depositor $0.00
Excess Spread Applied to other amounts owed to
Spread Account Residual Interest Holders $0.00
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $1,817,182.60
Apr-2002 1996-C Page 5
EXCESS FINANCE CHARGE COLLECTIONS -- GROUP I
- --------------------------------------------
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES
IN GROUP I $11,302,020.10
SERIES 1996-C EXCESS FINANCE CHARGE COLLECTIONS
- -----------------------------------------------
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO
SERIES 1996-C $0.00
Excess Finance Charge Collections applied to
Class A Required Amount $0.00
Excess Finance Charge Collections applied to
Class A Investor Charge Offs $0.00
Excess Finance Charge Collections applied to
Class B Required Amount $0.00
Excess Finance Charge Collections applied to
Reductions of Class B Invested Amount $0.00
Excess Finance Charge Collections applied to
Class C Required Amount $0.00
Excess Finance Charge Collections applied to
Reductions of Class C Invested Amount $0.00
Excess Finance Charge Collections applied to
Monthly Cash Collateral Fee $0.00
Excess Finance Charge Collections applied to
other amounts owed Cash Collateral Depositor $0.00
Excess Finance Charge Collections applied to
other amounts owed to Spread Account
Residual Interest Holders $0.00
YIELD AND BASE RATE
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Base Rate (Current Month) 4.10%
Base Rate (Prior Month) 4.14%
Base Rate (Two Months Ago) 4.08%
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THREE MONTH AVERAGE BASE RATE 4.11%
Portfolio Yield (Current Month) 11.12%
Portfolio Yield (Prior Month) 13.96%
Portfolio Yield (Two Months Ago) 10.80%
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THREE MONTH AVERAGE PORTFOLIO YIELD 11.96%
Apr-2002 1996-C Page 6
PRINCIPAL COLLECTIONS
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TOTAL PRINCIPAL COLLECTIONS $32,734,705.71
INVESTOR DEFAULT AMOUNT $2,092,347.29
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $0.00
Allocable to Class B Certficates $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE
FROM OTHER SERIES 0.00
CLASS A SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $0.00
Deficit Controlled Accumulation Amount $0.00
CONTROLLED DEPOSIT AMOUNT $0.00
CLASS B SCHEDULED ACCUMULATION --
Controlled Accumulation Amount $0.00
Deficit Controlled Accumulation Amount $0.00
CONTROLLED DEPOSIT AMOUNT $0.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR
PRINCIPAL SHARING $34,827,053.00
INVESTOR CHARGE OFFS
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CLASS A INVESTOR CHARGE OFFS $0.00
CLASS B INVESTOR CHARGE OFFS $0.00
CLASS C INVESTOR CHARGE OFFS $0.00
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
PREVIOUS CLASS B REDUCTIONS REIMBURSED $0.00
PREVIOUS CLASS C REDUCTIONS REIMBURSED $0.00
CASH COLLATERAL ACCOUNT
Required Cash Collateral Amount $9,000,000.00
Available Cash Collateral Amount $9,000,000.00
TOTAL DRAW AMOUNT $0.00
CASH COLLATERAL ACCOUNT SURPLUS $0.00
First USA Bank, National Association
as Servicer
By: /s/ Tracie Klein
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Tracie H. Klein
First Vice President